Forex Opinion & Analysis
USD/JPY: What’s the Next Move?
Bearish: We are currently @ 150.57 in a rectangle pattern. Two scenarios: Bullish: a move to the upper day chart trend line @ 152.00 area). 2: Bearish: A break down here or the 149.57 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 112 pips per day and it’s 90 day average is 125 pips per day. USDX is sideways.
USDJPY – up or down
